Clemex Discloses Third Quarter Results
18 Marzo 2014 - 9:05AM
Access Wire
Net
Profit of $200,042
Montreal, QC / ACCESSWIRE / - March
18th, 2014 / Clemex Technologies Inc.
(TSXV: CXG.A), designer and manufacturer
of Image Analysis systems and software for microscopy applications,
announces its financial results for the third Quarter of FY2014
ending January 31st, 2014. Sales reached
$1,741,464, an increase of 16.5%, compared to $1,494,978 for the
same period last year. This last quarter ends with a net income
consolidated result of participating shares of the Corporation of
$200,042 compared to a Net income attributable to participating
shares of $16,180 posted last year. For the first three quarter of
the Fiscal year, sales have reached $4,345,567 compared to
$4,370,581 for the comparable three quarter period last year, and
the net accumulated loss attributable to participating shares
reaches $1,288 compared to a net income of $72,962 for the same
period last year.
During this third Quarter, the
Corporation made its sales mainly in North America to major clients
in the manufacturing sector: Lockheed Martin, Intel
Corp, Nissan Research, NASA, Hydro Aluminum, Berg Pipe Steel,
Cummins and Twin Disc Corporation.
FINANCIAL HIGHLIGHTS
--------------------------------------------------------------------------------
| | Third quarter | | Nine months |
|------------------------------------------------------------------------------|
|Fiscal year |2014 |2013 | |2014 |2013 |
|------------------------------------------------------------------------------|
| | $ | $ | | $ | $ |
|------------------------------------------------------------------------------|
| |1,741,464 |1,494,978 | |4,345,567|4,370,581|
|Sales | | | | | |
|------------------------------------------------------------------------------|
| | | | | | |
|------------------------------------------------------------------------------|
| |1,042,264 |841,939 | |2,441,134|2,383,872|
|Gross Margin | | | | | |
|------------------------------------------------------------------------------|
| |59,8% |56,3% | |56,2% |54,5% |
|Gross Margin % | | | | | |
|------------------------------------------------------------------------------|
| |309,172 |75,675 | |213,998 |265,458 |
|EBITDA | | | | | |
|------------------------------------------------------------------------------|
| | | | | | |
|------------------------------------------------------------------------------|
|Net result attributable |200,042 |16,180 | | |72,962 |
|toparticipating shares of Clemex| | | | (1,288) | |
|Technologies Inc. | | | | | |
|------------------------------------------------------------------------------|
| | | | | | |
|------------------------------------------------------------------------------|
| | | | | | |
|Per share (basic&diluted) | | | | | 0.002 |
| |0.006 |0.001 | |(0.001) | |
| | | | | | |
--------------------------------------------------------------------------------
When asked to review the
quarterly results Clement Forget, President and CEO of
Clemex Technologies Inc. stated: "We had a good quarter and Net
Profit resulting from it is very interesting. The Corporation
becomes quickly profitable when sales exceed the $ 1.5 million
threshold during one Quarter. The level of activity in the
manufacturing sector in the United States is showing some
improvements, although it is still not as strong as we have seen in
the past. This current situation with the manufacturing market
justifies even more our decision to diversify our product line and
manufacture a line of medical instruments. He continued: "In this
regard, we are still in the validation phase, and an important
milestone should begin sometime this month with a local hospital.
HemaCyto instruments will also be displayed in laboratories of
customer sites over the coming weeks. The approval process with
Health Canada is following its course; the first validation
protocol is submitted, although we had to make minor modifications
to some components. At this time, sales of our medical instrument
will probably happen in the veterinary field as developments of
medical fields depend primarily on when the company will receive
the certification from Health Canada. "
About Clemex Technologies, Inc.
Clemex Technologies Inc.
develops, manufactures and markets image analysis systems and
software used by quality control and research microscopy
laboratories. Clemex' customer base spans over many countries in
America, Europe, Asia and encompasses major Research and
Development Centers, prestigious Universities and large
manufacturing industries in various fields including
healthcare, automotive, aerospace, raw materials manufacturing,
pharmaceuticals, mining and other sectors.
--30--
Clemex Technologies Inc,
800 Guimond,
Longueuil, QC, Canada J4G 1T5,
Contact:
Clement Forget,
President and CEO
Tel: 450.651.6573
Email:
ir@clemex.com
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